May 9, 2025
Colorado to invest $48M from Prop 123 into affordable housing
The funding—approved by voters in 2022—is aimed at expanding access to housing stability for families, a key step in addressing Colorado’s housing crisis.
Colorado Public Radio: Tony Gorman
The nearly $48 million awarded through Proposition 123 land banking funds shines a light on how voter-backed commitments are translating into concrete action across Colorado. Twenty-one recipients—including nonprofits, local governments, and housing coalitions—will use these grants to secure land and accelerate developments that serve households at or below Area Median Income. Among them, the Boulder Housing Coalition is moving forward on renovating the historic “People’s Mansion” in Denver’s Capitol Hill. The funding will support vital safety upgrades—like fire suppression systems, an egress stairwell, and accessibility improvements—while also expanding the site into 19 affordable housing units.